News
SEC revisits security-based swaps proposal
Sefs expect new trading rules for single-name CDS to be published “pretty soon”
Credit Suisse uses neural nets to call minute-ahead forex
Bank encases AI in ‘control framework’ to curb risk and will stick to micro timeframe for now
Banks team up for ‘Ion replacement’ project
Consortium weighs building fixed income software in potential threat to Ion, the dominant vendor
HSBC’s Elhedery: banks must protect whistleblowers
Corporate culture must respect and reward complainants; compensation could help, says markets chief
Industry to take up Fed’s white paper on cyber risk
Workshop will delve into definitions and classifications of the most chameleon of risks
Ice adds insurance to default waterfall
Protection promises partial recovery of guarantee funds at three CCPs
Market participants question South African rate reform
Risk South Africa: Some urge caution as South Africa moves to reform Jibar
EBA’s Campa: reduce Pillar 2 charges to offset output floor
Bankers plead for smaller capital hit and more predictability on implementation of Basel III
Banks warn of trader crunch at CCP default auctions
Risk USA: dealers hope for more cross-CCP fire drills
Tech mergers have increased crowding risks, investors say
Risk USA: Consolidation among vendors means “everyone’s looking at the exact same model”
BlackRock, State Street, AB are making AI work in risk
Risk USA: Fund managers are using new technology to measure liquidity risk and spot their own errors
FBI sees steep rise in state-sponsored cyber theft
Risk USA: Impact of US sanctions driving theft “to fund coffers”, says special agent
Fed’s repo operations will not fix rate spikes, dealers say
Risk USA: leverage constraints remain, even after massive injections of emergency liquidity
Nationwide and Lloyds win nod for Sonia bond switch
Covered bonds secure unanimous transition support, while first negative consent amendment passed
Use CDM, or some business lines might die – Barclays
Without innovation – including the common domain model – some trades could become prohibitive
NY Fed CRO urges banks to improve risk controls
Risk USA: Tangled web of controls threatens ability to recover from attacks, says Rosenberg
HK-China blockchain link tipped to boost trade finance
HSBC, StanChart and Bank of China welcome Hong Kong and China trade finance tie-up
Engle: rise in geopolitical risks may be overestimated
Risk USA: Nobel laureate’s new ‘Geovol’ model suggests geopolitical risk no higher than during past 20 years
Morgan Stanley, Wells not sold on AI for credit scoring
Risk USA: Lenders warn on AI model risks and use of non-traditional data
FRTB costs force banks to weigh IMA desk by desk
Risk USA: Some desks “may not be able to pass these more rigorous standards”, says Morgan Stanley FRTB lead
PRA drops ‘timely’ payouts in credit risk insurance
Plan for expeditious timeframe set aside to delight of banks worried about retaining capital breaks
CECL prompts loan sales, hunt for insurance
Risk USA: ‘CECL hogs’ could deplete capital ratios and be a drag on earnings
Goldman’s Granet: repo tumult does not undermine SOFR
Risk USA: Libor transition head says SOFR is more stable than the rate it is set to replace
LCH won’t back single fix for swaptions switch
Clearing house pledges to “support” multiple solutions to discounting problem